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France : Vivendi exceeded the 20% shareholding threshold in Ubisoft
Publish Date : 20-Jun-2016
Vivendi announced today that on June 14, 2016, it exceeded the 20% legal threshold of the Ubisoft share capital, holding 20.10% of the Ubisoft share capital and 17.76% of its voting rights.
Vivendi, in its declaration filed with the Autorit des Marchs financiers, the French securities regulator, and published today by the AMF on its website, has specified its objectives over the coming six months:
Vivendis acquisitions have been financed using its disposable cash;Vivendi is not acting together with any third party in connection with its investment in Ubisoft and has not entered into a temporary sale agreement concerning Ubisofts shares or voting rights;
Vivendi does not hold instruments and is not a party to agreements such as those referred to in paragraphs 4 and 4 bis of Article L.233-9 of the French Code de commerce (Trade Code).
Vivendi is considering continuing to acquire shares depending on market conditions;vivendi is not considering the launch of a public tender on Ubisoft nor acquiring the control of the company.
Vivendi is hoping to build a fruitful cooperation with Ubisoft;Vivendi is considering asking for a recomposition of the Ubisoft Board of Directors in order to, among other things, obtain Board representation consistent with its shareholder position.
Vivendis investment in Ubisofts business sector is part of a strategic vision of operational convergence between Vivendis content and platform and Ubisofts productions in the field of video games. Since this strategy does not require any modification to Ubisofts legal or financial organization, Vivendi is not contemplating any of the transactions referred to in Article 223-17, I, 6 of the AMF Rglement Gnral (General Regulations).
